HB4206

Illinois HB4206 establishes a process for charitable organizations to claim property or information from holders of property where the organization.

Illinois HB4206, known as the Charitable Organization Beneficiary Act, outlines a process for charitable organizations to claim property or information from holders of property where the organization is a designated beneficiary. The act requires holders of property to notify charitable organizations within 30 days if they may have a right to the property. Charitable organizations can request information or transfer of property by submitting an affidavit to the property holder.